ARK Invest Snaps Up $23.5M in BitMine and Bullish Shares Across Flagship ETFs

Cathie Wood’s $ARK Invest stepped up its bets on crypto-related equities Friday, buying more than $23.5 million in BitMine Immersion Technologies (BMNR) and crypto exchange Bullish, the parent company of CoinDesk, across three of its actively managed ETFs.

Trade disclosures show the $ARK Innovation ETF (ARKK), $ARK Next Generation Internet ETF (ARKW) and $ARK Fintech Innovation ETF (ARKF) collectively picked up 387,000 shares of BitMine and 144,000 shares of Bullish, worth over $23.5 million at Friday’s close.

ARKK led the way, adding 257,108 BitMine shares and 81,811 Bullish shares, while ARKW and ARKF split the remainder.

Along with these additions, $ARK trimmed stakes in DraftKings, Roku, Roblox and chipmaker Teradyne.

BitMine is currently ether’s largest treasury firm, holding 1.87 million ETH worth more than $8 billion. Its shares dropped 0.3% in Friday’s trading session, and an additional 1.17% in after hours trading.

Bullish went public in August through a $1.1 billion IPO after scrapping an earlier SPAC plan. $ARK was a major buyer on day one, snapping up $172 million worth of shares. The stock gained 6% on Friday, building on momentum from its debut, but is down 1.5% in after hours trading.